Permanent Account Number

Changes In Pan Application Rules With Effect From 5th December, 2018

Income Tax - CBDT on  19th November, 2018 vide Notification- G.S.R. 1128(E) changed the PAN (Permanent Account Number) card rules in order to prevent tax evasion. The new rules will come into effect from 5th December , 2018. ♣ In the case of a person, being a resident, other than an individual, which enters into a financial transaction of an a...

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Permanent Account Number (PAN)

Income Tax - In this article we have covered Meaning of Permanent Account Number (PAN), Its Utility,Procedure to Obtain PAN, Transaction in Which PAN is Mandatory,How to correct any mistake in PAN card or intimate any change in data pertaining to PAN...

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Understand Your PAN Card

Income Tax - Whether you are an Indian citizen or an NRI, if you are filing taxes or have financial transactions in India you will almost always need a PAN card....

Read More

PAN Meaning, Significance, who can apply & Procedure

Income Tax - Permanent Account Number (PAN) is a ten-digit alphanumeric identifier, issued by Income Tax Department. Each assessee (e.g. individual, firm, company etc.) is issued a unique PAN....

Read More

All About Permanent Account Number (PAN), Form 60 & Form 61

Income Tax - Permanent Account Number (PAN) is a ten-digit unique alphanumeric number issued by the Income Tax Department. The Primary purpose of the PAN is to bring a universal identification to all financial transactions and to prevent tax evasion by keeping track of monetary transactions....

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Individuals can Now apply for PAN online with digital signature

Income Tax - With effect from September 6, 2015, facility for digital signature certificate (DSC) based PAN application has been enabled in New PAN Form 49A for Individuals. Guideline for DSC based Online Application for New PAN Card in Form 49AA (a) An applicant will fill Form 49AA online and submit the form. Non-citizens of India should only [&helli...

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Allotment of free of cost instant e-PAN on near to real time basic

Income Tax - Important Note: Instant e-PAN facility is Free of cost and instant allotment of e-Pan and is available only for a limited period on first come first serve basic for valid Aadhaar  holders. Prerequisites for e-PAN: Applicant already having PAN should not apply for e-PAN The e-PAN facility is ONLY for resident individual (Except Minors and...

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Caution – Online PAN applicants

Income Tax - The general public is hereby informed that the Income Tax Department (ITD), Government of India has appointed only two entities namely NSDL e-Governance Infrastructure Limited (NSDL e- Gov) and UTI Infrastructure Technologies Services Limited for purpose of receiving and processing of PAN applications. ...

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No supporting document required for change of ‘gender’ to ‘transgender’ in PAN

Income Tax - New PAN allotment and Change request applications with ‘gender’ as ‘transgender’ is allowed without any hassle. Also, there is no requirement of depositing any supporting document for change of ‘gender’ to ‘transgender’ vide PAN Change request application made either through the portal of NS...

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Requirement for obtaining PAN card eased for corporate assessees

Income Tax - Requirement for obtaining PAN card u/s 139A of IT Act, 1961 eased for corporate assessees In case of a company, an application for incorporation, allotment of Permanent Account Number (PAN) and allotment of Tax Deduction and Collection Account Number (TAN) may be made through a Common Application Form submitted to the Ministry of Corporat...

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Mere allotment of PAN would not make allottee a Separate Entity

Sardar Vallabhbhai Patel Education Society Vs. ITO (Gujarat High Court) - Mere allotment of PAN under section 139A of the Act would not make the allottee necessarily a separate entity for the purpose of assessment of tax. The statute recognizes certain eventualities where quite outside the requirement of payment of tax and for filing return of income, the Assessing Office...

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Text of SC Judgment on Aadhaar Card Linkage With PAN

Binoy Viswam Vs Union Of India & Ors. (Supreme Court of India) - (i) We hold that the Parliament was fully competent to enact Section 139AA of the Act and its authority to make this law was not diluted by the orders of this Court. (ii) We do not find any conflict between the provisions of Aadhaar Act and Section 139AA of the Income Tax Act inasmuch as when interp...

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Section 206AA not overrides other provisions of Income Tax Act, 1961

Nagarjuna Fertilizers and Chemicals Limited Vs ACIT (ITAT Hyderabad) - Assessee cannot be held liable to deduct tax at higher of the rates prescribed in section 206AA in case of payments made to non-resident persons having taxable income in India in spite of their failure to furnish the Permanent Account Numbers....

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PAN card can now be issued in 3 Formats and Both Physically & Online

Notification 7/2018- DIT (Systems) - (27/12/2018) - CBDT has prescribed procedure formats and standards for issue of permanent account number by which it prescribed that PAN card can be issued Both Physically and Electronically (Online) in PDF Format. Physically PAN card can be issued as Black & White Laminated Card or as Coloured laminated and c...

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Father’s name non-mandatory in PAN application form: CBDT

Notification No. 82/2018-Income Tax [G.S.R. 1128(E)] - (19/11/2018) - Whether mother is a single parent and you wish to apply for PAN by furnishing the name of your mother only? Yes No (please tick as applicable) If yes, please fill in mother’s name in the appropriate space provide below. Father’s Name (Mandatory except where mother is a single par...

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Draft PAN Rules: Compulsory for Transaction above 2.50 Lakh; Father name not must in case Mother is single parent

F.No. 370142/40/2016-TPL (Part-I) - (31/08/2018) - CBDT proposed to amend Income Tax Rule 114 related to PAN and proposed to make PAN compulsory for transactions of Rs. 250000 or more and also proposed to amend  Form number 49A and Form number 49AA to provide that in case of Kids of Single Mother father’s name shall not be mandatory in PAN applic...

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How to register and submit Statement of Reportable Account

Notification No. 4 of 2018-DGIT(S) - (05/04/2018) - Procedure for registration and submission of Statement of Reportable Account as per section 285BA of Income-tax Act, 1961 read with Rule 114G of Income-tax Rules, 1962. ...

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How to register and submit statement of financial transactions (SFT)

Notification No. 3 of 2018-DGIT(S) - (05/04/2018) - Procedure for registration and submission of statement of financial transactions (SFT) as per section 285BA of Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962. ...

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Recent Posts in "Permanent Account Number"

PAN card can now be issued in 3 Formats and Both Physically & Online

Notification 7/2018- DIT (Systems) (27/12/2018)

CBDT has prescribed procedure formats and standards for issue of permanent account number by which it prescribed that PAN card can be issued Both Physically and Electronically (Online) in PDF Format. Physically PAN card can be issued as Black & White Laminated Card or as Coloured laminated and credit card sized PAN card. F.No. ADG(S)-...

Read More

Changes In Pan Application Rules With Effect From 5th December, 2018

CBDT on  19th November, 2018 vide Notification- G.S.R. 1128(E) changed the PAN (Permanent Account Number) card rules in order to prevent tax evasion. The new rules will come into effect from 5th December , 2018. ♣ In the case of a person, being a resident, other than an individual, which enters into a financial transaction of an a...

Read More
Posted Under: Income Tax |

Father’s name non-mandatory in PAN application form: CBDT

Notification No. 82/2018-Income Tax [G.S.R. 1128(E)] (19/11/2018)

Whether mother is a single parent and you wish to apply for PAN by furnishing the name of your mother only? Yes No (please tick as applicable) If yes, please fill in mother’s name in the appropriate space provide below. Father’s Name (Mandatory except where mother is a single parent and PAN is applied by furnishing the...

Read More

Permanent Account Number (PAN)

In this article we have covered Meaning of Permanent Account Number (PAN), Its Utility,Procedure to Obtain PAN, Transaction in Which PAN is Mandatory,How to correct any mistake in PAN card or intimate any change in data pertaining to PAN...

Read More
Posted Under: Income Tax | ,

Understand Your PAN Card

Whether you are an Indian citizen or an NRI, if you are filing taxes or have financial transactions in India you will almost always need a PAN card....

Read More
Posted Under: Income Tax | ,

Draft PAN Rules: Compulsory for Transaction above 2.50 Lakh; Father name not must in case Mother is single parent

F.No. 370142/40/2016-TPL (Part-I) (31/08/2018)

CBDT proposed to amend Income Tax Rule 114 related to PAN and proposed to make PAN compulsory for transactions of Rs. 250000 or more and also proposed to amend  Form number 49A and Form number 49AA to provide that in case of Kids of Single Mother father’s name shall not be mandatory in PAN application […]...

Read More

PAN Meaning, Significance, who can apply & Procedure

Permanent Account Number (PAN) is a ten-digit alphanumeric identifier, issued by Income Tax Department. Each assessee (e.g. individual, firm, company etc.) is issued a unique PAN....

Read More
Posted Under: Income Tax |

All About Permanent Account Number (PAN), Form 60 & Form 61

Permanent Account Number (PAN) is a ten-digit unique alphanumeric number issued by the Income Tax Department. The Primary purpose of the PAN is to bring a universal identification to all financial transactions and to prevent tax evasion by keeping track of monetary transactions....

Read More
Posted Under: Income Tax |

Individuals can Now apply for PAN online with digital signature

With effect from September 6, 2015, facility for digital signature certificate (DSC) based PAN application has been enabled in New PAN Form 49A for Individuals. Guideline for DSC based Online Application for New PAN Card in Form 49AA (a) An applicant will fill Form 49AA online and submit the form. Non-citizens of India should only [&helli...

Read More
Posted Under: Income Tax |

PAN Card- Structure, Who need to have, Mandatory Furnishing

Introduction: Every person who is required to file ROI shall get himself registered with the Indian Revenue Authorities. On being registered, such a person is alloted an identification number, commonly known as Permanent Account Number(PAN). Sec. 139A of Income Tax Act,1961 applies for Pan Card. Structure: Pan card is issued under Sec 139...

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Posted Under: Income Tax |

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